T. Rowe Price GNMA Fund Class I (PRXAX)

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The chart shows the growth of an initial investment of $10,000 in T. Rowe Price GNMA Fund Class I, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

T. Rowe Price GNMA Fund Class I (PRXAX) has returned 0.04% so far this year and 4.76% over the past 12 months.

Based on dividend-adjusted daily data since May 4, 2017, PRXAX's average daily return is 0.00%, while the average monthly return is +0.10%. At this rate, your investment would double in approximately 57.8 years.

Historically, 55% of months were positive and 45% were negative. The best month was Nov 2023 with a return of +4.8%, while the worst month was Sep 2022 at -5.3%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 9 months.

On a daily basis, PRXAX closed higher 36% of trading days. The best single day was Nov 10, 2022 with a return of +3.0%, while the worst single day was Sep 26, 2022 at -2.1%.

T. Rowe Price GNMA Fund Class I has an annualized alpha of 0.86%, beta of 0.03, and R² of 0.01 versus S&P 500 Index. Calculated based on daily prices since May 05, 2017.

• This fund participated in 19.51% of S&P 500 Index downside but only 11.28% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.03 may look defensive, but with R² of 0.01 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.01 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PRXAX has an expense ratio of 0.41%, placing it in the medium range.

PRXAX ranks 58 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

The table below present risk-adjusted performance metrics for T. Rowe Price GNMA Fund Class I (PRXAX) and compare them to a chosen benchmark (S&P 500 Index).

T. Rowe Price GNMA Fund Class I provided a 3.65% dividend yield over the last twelve months, with an annual payout of $0.30 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for T. Rowe Price GNMA Fund Class I. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the T. Rowe Price GNMA Fund Class I. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the T. Rowe Price GNMA Fund Class I was 18.04%, occurring on Oct 20, 2022. Recovery took 830 trading sessions.

The current T. Rowe Price GNMA Fund Class I drawdown is 2.03%.

The chart below shows the rolling one-month volatility.